The exemption is due to end on Dec 31.

Rehda president NK Tong said first-time home buyers should not be the only ones to benefit from the stamp duty exemption and suggested another exemption for transfer of property between parents and child, as well as grandparents and grandchild.

“There are many home owners who are looking to upgrade and (there are) those who have lost their ‘first-time home owner’ card after inheriting a property and are no longer able to enjoy the i-Miliki exemptions,” he said.

Tong said many Malaysians lacked awareness of the i-Miliki initiative, which he said amounted to “another form of targeted subsidy to help the deserving”.

Yesterday, local government minister Nga Kor Ming said the government has set a target of 100% home ownership by Malaysians. So far, 76.9% of Malaysians already own a house.

On Friday, the finance ministry announced that first-time house buyers would continue to enjoy the 100% stamp duty exemption via the i-Miliki home ownership initiative.

An exemption of 75% stamp duty will be given for first-time home ownership for houses priced between RM500,000 and RM1 million.

The exemption applies to purchases between June 1 last year and Dec 31 this year.